From 1st April, all new rental leases and renewals of tenancies will be required to have an energy performance rating of at least E on an Energy Performance Certificate (EPC). For existing tenancies, the regulations come into force on 1st April 2020.
We wondered how much tenants are prepared to pay for energy efficiency. Properties across England and Wales let in 2017 with an energy performance rating of E achieved 3.1% more per square foot than properties let with an F or G rating. On an 800 square foot property, this equates to an average of £360 per year.
The majority of landlords are well prepared, but we calculate that around 7% of properties let in 2017 still need to be brought up to the standard required. Best prepared are London landlords where just 4.9% of properties let last year were lower than an E rating, while in the South West more than 10% of properties did not meet the standard.
At the top of the scale, properties with an A or B rating achieved, on average, 31% more per square foot than F and G rated properties in 2017. On an 800 square foot property, this equates to an average premium of £3,600 per year.
We would like to take this opportunity to thank you
for your continued support which has made 2017
such a successful year
and we look forward to working with you
in 2018 and beyond.
After months of hard work, our new website finally went live over the weekend and is looking fantastic! Why not have a good look around and see what amazing new features and information are included.
Our new banner has arrived today ready for tonight, and it looks great!! We are proudly sponsoring the Pink Wig event which is part of Falmouth Week and raises funds for vital research projects, the best care for breast cancer patients in Cornwall and a safer future for the next generation.
Think of a property auction and you may think of developers snapping up a bargain on a TV show like Homes Under the Hammer. But savvy sellers are learning that there is much more to selling at auction, and it’s not all cut-price properties. In fact, the smallest flats to large mansions are all selling through the modern method of auction.
This is how it works and why you should consider selling through the modern method of auction.
1. Auctions can run for 14-28 days, so there is more chance for the future owner to think about the price they want to pay and bid accordingly. In the traditional method of auction, lots sell in an auction room, but with the modern method, everything happens safely and securely online.
2. Completion happens within 56 days, which can be a lot faster than selling your home on the open market. If you want to move quickly, an auction could be the perfect method for you.
3. Your local Guild Member can help you sell through the modern method of auction, so you have the safety of knowing that you are dealing with a local property professional, working in partnership with experts IAM Sold. Click here to find your nearest Guild agent.
4. Both cash buyers and mortgage buyers can bid for your home, vastly widening the number of people who can bid. All the buyer will need up-front is cash for their reservation fee.
5. Fewer sales fall through due to the non-refundable reservation fee. This will lessen the threat of an expensive fall through and means that you can be much more confident in your sale. There is also no chance of re-negotiation or gazumping once contracts are signed.
6. You can save money on estate agent fees. With an auction, the buyer pays the reservation fees. These cover the costs of the auction and leaves the seller without a hefty bill to pay. However, you may still need to pay a small fee to market your home for auction, so be aware of this before you decide on who to sell with.
7. Competitive bidding can drive up the sale price. You can set your own reserve price, which is a great safety net if the interest isn’t there. However, bidders can often drive up the price when there are two or more parties interested in the same property. You could leave with a price higher than you ever expected.
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